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  1. #1
    Join Date
    Jun 2005
    Posts
    289

    Reputable payment processors?

    Hi,

    I'm looking for a credit card processor (of the authorize.net variety, not the paypal variety) with a decent API (we'll be handling all shopping cart functions in our own app), and would like to compile a short list of possibilities to research further here and elsewhere.

    I've been looking at this board all afternoon and having trouble figuring out what credit card processors are considered reputable. I'd like to go with someone with a big name and a reputation to uphold.

    Which companies would you guys recommend?

    Thanks!

    avocado

  2. #2
    Join Date
    Jul 2003
    Location
    Castle Pines, CO
    Posts
    7,189
    It depends on what country you are in.

    For the gateway - it depends as well on what some of your needs are. The Verisign gateway (Payflow) is good with very little down time and plus it has a lot of extra features. LinkPoint is stable - chose by a number of larger corporations (like Home Depot, etc). Authorizenet.com was down quite a bit last year but seems to have everything back together. A lot of smaller businesses pick them

  3. #3
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    You may want to do a search here for "merchant account" or a similar term like that to read various reviews of different companies.

    There are a lot of things to check into with respect to any merchant processor including:
    1. Setup Fees
    2. Monthly Minimums
    3. Annual Fees
    4. Early Termination Fees
    5. Online Reporting
    6. Risk Management
    7. Chargeback Processing
    8. Industry-specific Experience

    In terms of payment gateways, I'd say that Authorize.net is a very reliable gateway. I know a lot of very high volume merchants that have used it for many years.

    Authorize.net is also one of the largest gateway systems in the world with over 100,000+ merchants utilizing it and processing millions of transactions daily.

    They did have one bad period of downtime but it was related to an extensive DDoS attack - the same type of attacks that had previously crippled major Fortune 500 Web sites and other gateways until they all hardened their defenses against such attacks.

    To be perfectly honest, virtually any online gateway system is vulnerable to those attacks but the important thing is that Authorize.Net took the steps to improve their system and hasn't had such an issue since that time.

    eProcessingNetwork is also a great gateway solution that has an Authorize.net emulation mode. It has a built-in recurring billing system which is a very nice feature and some built-in fraud control features. It has never had any downtime to my knowledge.

    Paradata, CyberSource, Verisign, Plug-n-Pay, Linkpoint & iTransact are also other options that have their own set of unique features.

    However, for a basic online order form, any of these systems would do just fine so I'd suggest first finding a merchant processor to work with and then using their recommendation.

    Best of luck with your search!
    CDGcommerce.com - Trusted Merchant Account Solutions since 1998
    Many thousands of successful, growing businesses benefit from our expertise every day. You can, too!
    We help merchants to eliminate gateway costs, reduce & mitigate fraud and achieve streamlined PCI compliance.
    Learn more today at http://www.cdgcommerce.com - we look forward to helping your business grow!

  4. #4
    Join Date
    Jun 2005
    Posts
    289
    Originally posted by cdgcommerce
    However, for a basic online order form, any of these systems would do just fine so I'd suggest first finding a merchant processor to work with and then using their recommendation.
    What would be the reason to use a merchant processor as a middleman btwn my site and the gateway?

  5. #5
    Join Date
    Apr 2005
    Location
    silicon and earthquakes
    Posts
    255
    Often the middleman has better prices if you are small, as biger companies do not want to deal with small firms.

  6. #6
    Join Date
    Aug 2003
    Location
    Chesapeake, VA
    Posts
    3,379
    A merchant processor is not a middleman with respect to a gateway but one of the necessary pieces to the puzzle.

    A gateway by itself is only the Internet equivalent of those retail credit card terminals you see at restail stores. All that it does is securely collect transaction requests and then send them through the merchant processor's authorization network to get an approval or decline.

    Thus, as an example - you can't have Authorize.Net by itself - you still need a merchant account to go with it. The merchant account component is what handles all of your authorizations, settlements & fundings as well as supporting any of your non-gateway questions.
    CDGcommerce.com - Trusted Merchant Account Solutions since 1998
    Many thousands of successful, growing businesses benefit from our expertise every day. You can, too!
    We help merchants to eliminate gateway costs, reduce & mitigate fraud and achieve streamlined PCI compliance.
    Learn more today at http://www.cdgcommerce.com - we look forward to helping your business grow!

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